Real estate development software is a web-based platform designed to help project managers coordinate their works more efficiently. It's also a good solution for closing the communication gap which usually resulted in uncountable losses not just in the money invested on the project but in the time and effort put in by all members involved in the project.
If you are working in the real estate industry as a manager or planner, it’s time to really think about improving the way of project management and communication by using Real estate development software.
In this post, we will introduce the most useful features of a Real Estate development software that you can benefit from to better manage any aspects of small or large scale projects. Stay with us.
What Is Real Estate Development Software?
Real estate development software provides a great solution for analyzing and tracking all aspects of various projects by allowing project managers to use a variety of tools and options to keep everything under their control.
This type of software enables the managers to observe and monitor materials, workers, subcontractors, budgets, payments, and every single detail in one view and decide about construction plans or evaluate the material needed for the construction more efficiently.
Common Features of Real Estate Development Software
The features involved in Real estate development software could be expanded depending on the project manager's requirements. They are built to facilitate decision making and process control for all businesses involved in the Real estate industry.
Here are the most useful features of the Real estate development software
- Financial analysis and report
- Subcontractor management
- Process development tracking
- Detailed planning of material consumption
- Resources Estimation and evaluation
- Real-time collaboration
The tools and options provided by Real estate development software allow you to:
- Communicate in real-time with different parties rely on you to manage the construction plans
- Keep track of all documents and data such as emails, project procedures, material supply, datasheets, timesheets, etc.
- Add/remove your clients, members, subcontractors, workers, etc. To/from the software
- Monitor and track all scheduled plans to make sure about the progress of the construction process
What are the advantages of using Real estate development software?
Managing the projects running in the Real estate industry is not just limited to purchasing land or selling a building, the whole process of building construction from budget estimation to scheduling required material or services needs to be evaluated and managed precisely.
The only way that enables project managers to keep everything under their control is using professional project management software to help them create task lists, assign duties to the right persons, keep tracking the work progress, and communicate with all parties smartly.
By offering powerful tools and features, Real estate development software is the comprehensive solution for all project managers provide below advantages for them:
The real-time collaboration, alert notifications, scheduling calendars, and many other options provided in Real estate development software place no room for delay in construction, sale proceedings, resource utilization, supplying services, or even evaluating and managing client funds.
The in-built communication tools such as sending text or voice messages, making voice calls or video calls, sending emails, sharing contents and media are common features offered by all types of project management app or software enabling all users to collaborate more efficiently without any need to deal with lots of missed calls or lost messages over their phones.
Optimize time and effort efficiently
When a precise plan is developed for construction in the real estate industry, most of the tasks must be done repeatedly every day to make progress on the projects. Without using a project management app, wasting a lot of time and effort is inevitable for assigning or recalling all these repetitive tasks to every single person involved in the project and monitoring their routine tasks to be done correctly.
Monitor the subcontractor tasks
One of the big deals of companies working in Real Estate industry is the delay in the construction process due to the lack of coordination between workers, managers and subcontractors.
supplying material and services on-time has a great impact on the progress of the big construction projects. When every detail can be traced in one platform by authorized persons, monitoring and forcing the subcontractors to do their tasks is easily possible which can result in improving the efficiency and productivity of the projects.
Make Schedule management possible
Time scheduling and planning are the most important key factors for all projects running in the Real estate industry. All Real estate development software provides customizable time charts to help project managers schedule their timelines, update their critical tasks on the calendar, set up a baseline to track real-time deviations and get construction progress reports based on the scheduled date.
Facilitate Document handling
The best Real estate development software enables users to upload all necessary documents and share them with other members very fast and easily. There is always a cloud base space available to all members to keep and share different types of documents such as sale contracts, inspection reports, lease agreements, timesheets, etc.
It is possible to assign a specific database to each project to keep track of every version of documents for future reference.
Who can benefit from Real Estate Development Software?
By providing a lot of amazing features for project management, Real estate development software can help all types of business in the real estate industry including:
Small businesses usually have limited budgets and income which makes them prefer to stick to the traditional management solution instead of paying for smart solutions such as Real estate project management apps or software. However, considering the efficiency brought to them in the long term is quite convincing that encourages them to investigate using such software.
In the traditional ways, small businesses needs to pay for some staffs to travel everyday to the construction sites, subcontractor offices, client meetings and material suppliers, and other coworkers to gather information, describe the reports or monitor the progress or force them to do their tasks, there is also a huge demand for wasting papers to print the documents and reports on them and to carry all of them to different places.
By eliminating the need for everyday traveling and wasting time and money to print data and send it to the responsible person physically, a Real Estate development Software has a great impact on saving time and money for small businesses by providing a cloud based space which all authorized persons including managers, clients, workers, engineers, etc have access to it to share their documents, collaborate with each other and monitor the progress of the projects.
Enterprise businesses are large companies working in the real estate construction industry that recognize their need to replace the existing systems with a smarter one to manage multiple projects running on different locations in a single platform.
They are completely aware of the benefits a Real estate development software can bring to them and most of them start to use this platform for financial analysis, material supply tracking, construction process and even sales/marketing management.
Best of breed businesses are specialized in a specific niche in the Real estate industry so they need a customizable and flexible software to enable them personalize the software to cover all of their needs.
For example, construction companies working on big projects like constructing 50 floor towers, need a professional software with special features to allow them share and manage the civil drawings, hold online meetings and even monitor the construction site directly on their device.
How to choose the best Real Estate Development Software?
To choose the best Real estate development software, you need to consider the following factors:
Developer support is the most important factor for choosing the best Real estate development software. As a project management app, it needs to be upgraded regularly to solve some common problems such as managing bug fixes, software maintenance, data storage, etc. If you want to use cloud base software, then you have to ensure developer support before starting to import data and starting your project management on that platform.
The price of developing a Real estate software is another concern for all businesses. Although some free apps and software are offering incredible features for managing small projects, the professional cloud-based software with more efficient and productive tools comes with a subscription-based pricing or license fee that you need to consider for using them in the long term.
Size of projects
The size of data and storage that is supported by Real estate development software has a great impact on the quality of management. If you want to run and manage different large-scale projects on such platforms, you need to consider the free space available in that platform for uploading documents, adding members, sharing content, etc.
Integration with third-party solutions or enterprise solutions like CRM solutions and ERP software is another important consideration that is really helpful especially for large businesses working in the Real estate industry. It is also important for cloud-based software to have mobile access integration for better management.
Real estate development software is a cloud-based construction program management solution developed to help small or large businesses working on construction projects increase their performance across the project lifecycle or to enable facility owners to track their business processes with centralized project information.